In 1931, when the young F.A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange, which lasted until Keynes's death in 1946, is reprinted in its entirety in this latest volume of "The Collected Works of F.A. Hayek."
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.